Browsing: NZD/USD Forecast

The New Zealand dollar made another attempt to the upside but eventually lost ground for a second week in a row. A lighter calendar will give some breathing room after both central banks made their calls Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The Reserve Bank of New Zealand left the interest rate unchanged at 2% but provided more direct rhetoric against the strength of the currency, showing its frustration with the NZD’s recent move higher. Milk prices continued rising, and this contrasted the RBNZ’s message. In the US, the FED left rates unchanged but hinted that…

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The New Zealand dollar was on the back foot as the US dollar regained its strength. The RBNZ’s decision is now left, front and center. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. A global sell-off of stocks over various worries boosted the US dollar and the kiwi, as a commodity currency, was headed in the other direction. New Zealand’s deeper than expected current account deficit did not help.GDP provided an opportunity for things to balance out. On one hand, quarterly growth was weaker with only 0.9%, yet annual growth remained a robust 3.6%. In the US, the…

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The New Zealand dollar kept on struggling. Milk prices stand out this week. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. Terms of trade in New Zealand fell by 2.1%, worse than expected, but that did not hurt the currency too much. The kiwi remained under pressure from the strength of the US dollar, which enjoyed the echoes from Jackson Hole in the previous week. NZD/USD eventually took advantage of the poor US NFP to end the week higher. NZD/USD daily graph with support and resistance lines on it. Click to enlarge: ANZ Commodity Prices: Monday, 1:00. Commodity prices…

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The New Zealand dollar tried reaching new highs and had a struggle, moving just a bit higher. Is this break real? 3 events are on the agenda this week. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. New Zealand saw a trade balance deficit of 433 million, worse than expected. This weighed on the kiwi dollar. In the US, new home sales beat expectations. The mixed messages in Jackson Hole caused a wobble, but the kiwi managed to push through and reach higher ground. NZD/USD daily graph with support and resistance lines on it. Click to enlarge: Building Consents: Monday,…

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The New Zealand dollar enjoyed the robust jobs report and the weakness of the greenback to gain ground. A sole event awaits us this week. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. New Zealand enjoyed a rise of 2.4% in jobs and a drop to 5.1% in the unemployment rate. Also milk prices gave their support with a leap of 12.7%. In the US, the Fed’s minutes showed little appetite for a rate hike. NZD/USD daily graph with support and resistance lines on it. Click to enlarge: Trade Balance: Tuesday, 22:45. New Zealand enjoyed surpluses in its trade balance in…

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The New Zealand dollar moved according to the flute of the RBNZ, but certainly not in the most straightforward manner. The jobs report is the big event of the upcoming week. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The RBNZ cut rates but the kiwi bounced. It was an exaggerated “buy the rumor, sell the fact” response and was especially strange with the promise to do more. Later on, we did see a correction, when the kiwi failed to rise on an excellent retail sales report. Will its behavior return to normal? In the US, data has…

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The New Zealand dollar had its time in the sun, recovering from previous lows. It’s now money time for the pair, with the central bank set to make its decision. Will they cut? Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. Inflation expectations picked up in Q2, standing at 1.7%. After weak CPI numbers, this forward-looking inflation figure is encouraging for the RBNZ. Good news also came out favorably with a jump of 6.6%. In the US, data was mixed until the NFP came. The US gained more jobs than expected and this pushed NZD/USD lower. NZD/USD daily…

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The New Zealand dollar was looking for a new direction. The upcoming week features key data for the RBNZ before its important decision. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. Trade balance remained positive in New Zealand, albeit did not beat expectations with hitting 127 million. In the US, data was initially OK, but the terrible GDP report weighed heavily on the greenback. NZD/USD daily graph with support and resistance lines on it. Click to enlarge: Inflation Expectations: Tuesday, 3:00. With inflation figures released only once per quarter, this publication provides another view on the state of prices. In the last…

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The New Zealand dollar was falling quite a bit on growing speculation for a rate cut by the RBNZ. Three events are lined up this week. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. The Reserve Bank of New Zealand published a special assessment of the economy and it seems they are ready to cut. This joins a weaker than expected CPI release, showing prices advanced only 0.4% in Q1. The steady milk prices did not help, nor did the OK US data. All in all, it was a bad week for kiwi/dollar. NZD/USD daily graph with support and resistance…

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